Langen Mcalenn Brokers Cut Earnings Estimates for Alleghany Co. (Y)

Alleghany Co. (NYSE:Y) – Stock analysts at Langen Mcalenn decreased their FY2018 earnings estimates for Alleghany in a research report issued to clients and investors on Tuesday, November 6th. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $27.95 per share for the year, down from their previous estimate of $33.85. Langen Mcalenn also issued estimates for Alleghany’s Q4 2018 earnings at $7.74 EPS.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of $3.50 by ($4.57). Alleghany had a return on equity of 5.42% and a net margin of 12.34%. The business had revenue of $1.35 billion for the quarter.

Several other research firms have also recently commented on Y. Zacks Investment Research cut Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a report on Thursday, July 26th.

Alleghany stock opened at $633.18 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 310.38 and a beta of 0.94. Alleghany has a 12 month low of $549.00 and a 12 month high of $659.88.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in Y. Qube Research & Technologies Ltd bought a new position in Alleghany in the 2nd quarter valued at $106,000. Simplex Trading LLC bought a new position in Alleghany in the 3rd quarter valued at $190,000. HPM Partners LLC bought a new position in Alleghany in the 2nd quarter valued at $215,000. Hartford Investment Management Co. bought a new position in Alleghany in the 2nd quarter valued at $217,000. Finally, Gideon Capital Advisors Inc. bought a new position in Alleghany in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 82.07% of the company’s stock.

Alleghany Company Profile

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.

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Earnings History and Estimates for Alleghany (NYSE:Y)

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